Federal Reserve Bank (Fed) of New York Empire State Manufacturing Index

NY Fed Empire State Manufacturing Index measures business conditions in the manufacturing sector in the state of New York. This monthly indicator is calculated based on a survey of several hundred large manufacturers operating in the state of New York. A level above 0 indicates an improvement in conditions, below 0 means worsening.

The questionnaire contains questions about changes in business conditions in the given month compared to the previous month. The survey participants assess changes in the following components:

• General business conditions
• The number of new orders
• Shipment
• The number of unfilled orders (orders in progress)
• Suppliers' delivery times
• Inventories
• Prices paid (prices for goods and services which the company purchases in the production process)
• Prices received (prices for produced items received by the company)
• The number of employees
• Average working week

The second part of the survey contains an outlook part: participants suggest how the above components may change in the next 6 months. In addition to these 11 elements, the outlook part of the survey contains questions about company's capital expenditures (spendings on equipment and technology).

Separate diffuse indices are calculated based on the survey. The main index of the survey is the general business conditions. It is calculated independently, and other indices calculated based on the survey results do not affect this index.

Analytics see the index as a measure of production activity, the results of which can be extrapolated throughout the country. Its growth can have a positive effect on dollar quotes.